35. In Australia in relation to the
provision of financial advice services:
a. there is a national compensation
arrangement for consumers of financial services.
b. holders of an Australian Financial
Answers
a. there is a national compensation arrangement for consumers of financial services.
b. holders of an Australian Financial License (AFSL) are subject to certain conduct and disclosure obligations.
c. Financial advisers are required to act in the best interests of their clients and provide advice that is appropriate to the client's individual circumstances.
d. Financial advisers must disclose any conflicts of interest and obtain their clients' consent before providing advice that may benefit the adviser or their employer.
e. Financial advisers must provide clients with a Statement of Advice (SOA) that outlines the advice they have provided and the basis for that advice.
f. The Corporations Act 2001 sets out the legal and regulatory framework for financial advice in Australia.
g. The Australian Securities and Investments Commission (ASIC) is the regulatory body responsible for enforcing the Corporations Act and overseeing the financial advice industry.
h. ASIC has the power to impose penalties and fines on financial advisers and their firms for breaches of the law.
i. Clients can seek compensation for losses suffered as a result of financial advice provided by a financial adviser who is not authorized or licensed by ASIC.
j. The Australian Securities and Investments Commission (ASIC) also has a dispute resolution scheme called the Financial Ombudsman Service (FOS) that can assist clients with disputes with financial firms.
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Related Questions
a bond currently has a price of $1,050. the yield on the bond is 6%. if the yield increases 25 basis points,the price of the bond will go down to $1,030. compute the duration of this bond in years.
Answers
According to the question the duration of the bond is approximately -30.48 years.
A bond is a financial instrument that represents a loan made by an investor to a borrower, typically a corporation, government, or municipality. When an investor purchases a bond, they are essentially lending money to the issuer in exchange for periodic interest payments (known as coupon payments) and the return of the principal amount at maturity.
To compute the duration of the bond, we can use the formula:
Duration = (Change in Price) / (Initial Price x Change in Yield)
Given:
Initial Price = $1,050
Change in Yield = 25 basis points = 0.25%
Change in Price = -$1,030 (negative because the price decreases)
Plugging in the values:
Duration = (-$1,030 - $1,050) / ($1,050 x 0.0025) = -$80 / $2.625 = -30.48
The duration of the bond is approximately -30.48 years.
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If you 2,000,000,000 dollars what would you do with all that money
Answers
Answer:
put about 500,000,000 in stocks ,and 200,000,000 in bitcoin. Than start my own business save 1,100,000,000 in a bank or store it somewhere no one else can find it and than buy a beach side home and classic mustang cuz why not im rich
Explanation:
cuz I can
Jeevan and Jayaram started a partnership business. Jayaram is a filmstar. He has no time to be involved in business activity. Jeevan conducts the business on behalf of Jayaram. Can you identify and differentiate the two types of partners.
Answers
Answer:
•Jayaram is a Limited partner
•Jeevan is an active partner
Explanation:
•A limited partner also known as a silent partner is a partner who does not partake in the day to day running of the business. He only provides capital to the running of the business hence his liability is limited to the amount invested in the business.
Asides providing capital and not being active in the management of the business activity, he can be of help by providing business contact that would bring progress to the business and also give business advice where and when necessary.
• An active partner is a partner who provides capital and also oversees the daily activities of the business. He is a very important partner because of his involvement in the business affairs hence has more liability unlike the limited partner. An active partner's action can make or mar the business because of the influence he has over the business.
A major reason for creating the European Monetary System was toA) create a single currency.B) unify banking laws and permit cross-border investment.C) avoid competitive devaluations.D) reduce the costs of changing currencies.E) eliminate the need for central banks.
Answers
A major reason for creating the European Monetary System was to C) avoid competitive devaluations.
The European Monetary System (EMS) was established in 1979 with the goal of creating greater monetary stability in Europe by coordinating the exchange rate policies of member countries and reducing currency fluctuations. One of the primary reasons for creating the EMS was to avoid competitive devaluations, which occurred frequently in the years following World War II as countries attempted to boost their exports by devaluing their currencies relative to others. Competitive devaluations could lead to a "race to the bottom" where countries continually devalue their currencies, ultimately leading to inflation and economic instability.
Through the EMS, member countries agreed to maintain stable exchange rates with each other by setting up a system of fixed exchange rates and intervening in the foreign exchange market to maintain those rates. The EMS also established the European Currency Unit (ECU), which was a basket of currencies that served as a common unit of account and helped to reduce exchange rate volatility.
The EMS was eventually replaced by the European Monetary Union (EMU) in 1999, which introduced the euro as a single currency for participating countries. However, the goal of avoiding competitive devaluations and promoting monetary stability in Europe remained a key objective of the EMU.
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future changes in automobile technology are likely to include
Answers
Answer: Flying cars??
Explanation: Im 99.9% sure it will happen.
A marketer is keeping track of the revenue generated by his campaign. He wants to
see a specified return-on-investment for his monthly ad spend.
Which type of automated bidding strategy will meet his needs?
An awareness-based bidding strategy
A conversion-focused bidding strategy
A revenue-focused bidding strategy
A consideration-focused bidding strategy
Answers
Answer:
C). A revenue-focused bidding strategy.
Explanation:
As per the details given in the question, 'a revenue-focused bidding strategy' will most likely assist the marketer in upkeeping his needs as his key focus is to discern a particular return on his investment that he made for the monthly ad spend made by him. This automated strategy of bidding will allow him to keep track of the revenue and escalate the return. Thus, option C is the correct answer.
Reporting revenues only when cash is received and expenses only when cash is paid is called the basis of accounting. True or false?.
Answers
The term "cash basis of accounting" refers to only recording revenue upon receipt of cash and expense upon payment of cash.
The term "cash basis" refers to a significant accounting technique that records revenues and expenses at the time that money is received or spent. Contrast this with accrual accounting, which regardless of when cash is received or paid, recognizes income at the time the revenue is earned and records expenses when liabilities are incurred.
By whom is cash basis accounting used?
Financial reporting can be done using either cash accounting or accrual accounting. Cash accounting is a method used by sole proprietorships, small firms, and individuals to keep track of their income and expenses whenever money is exchanged.
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selecting a job based on your skills and interst is inportent because on average a person with a full time job works approximately _____ hours each year
Answers
Answer:
Selecting a job based on your skills and interest is important because on average a person with a full time job works approximately 2000 hours each year.
I believe this was C. on edge
Explanation:
Just took test on edgenuity
why is it important to start with temporary investments that lead to permanent investments
Answers
These investments are commonly used when a business has a short-term excess of funds on which it wants to earn interest, but which will be needed to fund operations within the near future. These types of investments are usually very safe, but also have quite a low rate of return.
In the united states what is the significance of April 15
Answers
Answer:
Hope it helps
have a good day Ahead
April 15th of the United States is Tax day
What Problem do Trump and Biden want to solve?
Answers
Answer: trump and Biden want to solve many problems
Explanation: they ways they do it are different
Applicants who test positive for illegal drug use can be screened out of a job immediately. please select the best answer from the choices provided t f
Answers
Answer:
True
Explanation:
People who have done drugs in the past is a typical red flag for businesses, which they want to avoid at all costs.
Applicants who test positive for illegal drug use cannot be automatically screened out of a job immediately. Hence, the given statement is false.
What are illegal drugs?llegal drugs are drugs that are prohibited by law, either because they have a high potential for abuse, are considered dangerous or have no accepted medical use. Examples of illegal drugs include heroin, cocaine, methamphetamine, and marijuana (in many jurisdictions).
Applicants who test positive for illegal drug use cannot be automatically screened out of a job immediately. It depends on the laws and policies in place in a particular jurisdiction and the company's specific policies. In some cases, companies may be required to offer rehabilitation or other accommodations before making any employment decisions based on drug test results.
Therefore, applicants who test positive for illegal drug use cannot be automatically screened out of a job immediately. Hence, the given statement is false.
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The formula for budgeted direct materials purchases is: Multiple Choice Budgeted production units + Ending direct materials inventory – Beginning direct materials inventory o Budgeted production units + Beginning direct materials inventory – Ending direct materials inventory production unis + Begini Materials needed for production + Ending direct materials inventory – Beginning direct materials inventory O Materials needed for production + Beginning direct materials inventory – Ending direct materials inventory materials needed for production + Beginning direct materials
Answers
The formula for budgeted direct materials purchases is given as follows:
Materials needed for production + Ending direct materials inventory – Beginning direct materials inventory
Budgeted direct material purchases refer to the cost of direct material that a business unit needs to buy to complete the production process. This cost is calculated based on the number of direct materials needed for production, beginning direct material inventory, and ending direct material inventory. The formula for budgeted direct materials purchases is:Materials needed for production + Ending direct materials inventory – Beginning direct materials inventory. This formula helps the management team to ensure that the materials required for production are available, and they can purchase them on time to avoid production stoppages.
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4. Determine the importance of environment conservation from the business viewpoint
Answers
Answer:
Economic expansion is not what is causing the climate crisis; rather, the lack of effective public policy meant to lower greenhouse gas emissions is to blame. As long as regulations are in place to limit the environmental effects of the goods and services we produce and use, there is no conflict between capitalism and environmental protection. With those regulations in place, consideration for environmental sustainability can and will be factored into every decision made by the private, nonprofit, and governmental organizations from which we all benefit.
The sustainability of the environment is not affected in the same way by all consumption patterns. The emergence of more sustainable lifestyles can be seen in consumption trends. Young Americans, for instance, don't seem as interested in buying cars as their parents and older siblings did. The advancement of the mobile phone has made ride-sharing, bike-sharing, and other transit options possible.
However, taking an Uber or driving your own car are both considered economic activities for the purposes of calculating GDP. These consumption patterns are typically not the subject of policymaking because they are quite influenced by shifting social norms than by governmental action. The only exceptions might be behavior that directly harms other people, like drinking and driving or smoking in public. New technologies can also lessen the impact of consumption on the environment.
Ironically, some environmentalists and some deniers of global warming share the view that environmental protection and economic growth must be compromised. Both can and must be done. Because most people in the developed world enjoy their way of life and won't give it up, we cannot stop investing in economic development. Environmental advocates will fail politically if they make such a request.
Explanation:
Political and business leaders may not care if economic growth harms the environment, and environmentalists may disagree, contending that neither economic growth nor environmental harm can coexist.
Even by itself, environmental protection promotes economic expansion. The air pollution control technologies we install on power plants and automobiles are made and sold by a third party. Additionally, environmental amenities are valuable.
Marketing Research: Mystery Shopper Many companies rely on mystery shoppers to conduct marketing research. In recent years, mystery shopping has changed as it has taken on an even more prominent role in the implementation of marketing strategy Before marketers can develop a marketing mix, they must collect in-depth, up-to-date information about consumer needs Marketing research is a systematic, objective process of getting information about potential customers to guide marketing decisions Read the case below and answer the questions that follow This is how mystery shopping works: Mystery shoppers enter establishments pretending to be regular customers. They come with mental checklists and scrutinize both how they are treated and the appearances of the establishment. Some actually use digital cameras and computer equipment to document these conditions. Many mystery shoppers work ona part-time basis and do so to earn free merchandise, meals, movie tickets, and so on. Smaller numbers actually work full- time as shoppers Companies rely on the information provided by mystery shoppers to make sure employees are following company guidelines. Some companies actually provide company bonuses based on employee's performances during mystery inspections. Although a number of companies are now utilizing online and phone customer surveys to judge performances-a practice that costs far less than employing mystery shoppers-many companies still rely on these mystery inspections and feel the results help them raise the bottom line-customer satisfaction Over time, companies have been created that "hire" these volunteer shoppers and provide them with assignments. As of 2005, there were around 500 companies managing volunteer shoppers. The business as a whole is worth about $600 million. The new frequent use of mystery shoppers is due in part to the Internet, which has made the entire process-from handing out assignments to returning feedback-much easier. Companies are also much more conscious of maintaining quality, hiring mystery shoppers provides companies with a way to discover whether or not their stores are adhering to the companies' standards. These mystery shoppers engage in meaningful observations to improve the implementation of marketing strategy. 1. Secret shopping provides research to evaluate:
Buyer behavior
Service standards
Target markets
Merchandising
Answers
Secret shopping provides research to evaluate service standards in establishments.
Mystery shoppers are hired to act as regular customers and evaluate the treatment they receive and the appearance of the establishment. This information is then used by companies to ensure their employees are following company guidelines and provide bonuses based on their performances during mystery inspections.
Although online and phone surveys are becoming more popular, many companies still rely on mystery inspections as a way to raise customer satisfaction and maintain quality.
Mystery shopping provides companies with a way to discover whether or not their stores are adhering to the companies' standards and engage in meaningful observations to improve the implementation of marketing strategy.
Overall, mystery shopping plays a crucial role in marketing research by providing up-to-date information about consumer needs and behavior to guide marketing decisions.
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The following information is available for a custom manufacturer. Inventories Raw materials, beginning Work in process, beginning Finished goods, beginning Cost of goods manufactured $ 39,200 13,600 9,950 96,490 Costs incurred for the period Raw materials purchases Direct materials used Direct labor used Factory overhead (actual) Cost of goods sold (not considering over- or underapplied overhead) Indirect materials used 84,400 Sales 101,200 Predetermined overhead rate based on direct materials used.
Indirect labor used Other overhead costs 80% 1. Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. 2. Compute overapplied or underapplied overhead. Answer is not complete.
Complete this question by entering your answers in the tabs below. Required 1 Required 2
Complete the T-accounts for each of the three inventory accounts using the data provided in the above table. Raw Materials Inventory 39,200✔ Beginning Beginning Purchases 10,500 X 45,650 19,660 Direct materials Direct labor Overhead applied Ending 2,710 Ending Finished Goods Inventory Beginning 9,950 84,400 Cost of goods manufactured 96,490 Ending 22,040 3 Work in Process Inventory 96,490 X 13,600 ✓ 45,650 24,000 36,520 23,280 $ 19,660 45,650 24,000 10,500 17,600 5,500
Answers
The custom manufacturer's T-account information can be found here. 1. The T-Accounts for each of the three inventory accounts using the data given above are Raw Materials Inventory, Work in Process Inventory, and Finished Goods Inventory. Raw Materials Inventory | Work in Process Inventory | Finished Goods Inventory | Beginning | 39,200 | 13,600 | 9,950 | Costs Incurred | Direct Materials Purchases
| X | X | Direct Materials Used | X | 45,650 | X | Direct Labor Used | X | 24,000 | X | Factory Overhead (Actual) | X | 36,520 | X | Overhead Applied | X | 23,280 | X | Ending | 2,710 | 19,660 | 22,040 | 2. Overapplied or underapplied overhead is computed as follows: Overhead applied is compared to actual overhead to determine the overapplied or underapplied overhead. The manufacturer uses the following formula: Actual Overhead - Applied Overhead = Overhead Underapplied or Overapplied.
To compute the overapplied or underapplied overhead, we must first calculate the applied overhead using the predetermined overhead rate. Overhead Applied = (Direct Materials Used * POHR) = (45,650 * 80%) = $36,520. We can now compare this to actual overhead to see if it was underapplied or overapplied. 80% of Direct Materials Used = $36,520. Direct Materials Used = $36,520 / 0.80 = $45,650.
Overhead Applied = (Direct Materials Used * POHR) = (45,650 * 80%) = $36,520. Actual Overhead - Applied Overhead = Overhead Underapplied or Overapplied. $80,000 - $36,520 = $43,480 Underapplied overhead. Thus, overhead was underapplied by $43,480. Therefore, the answer is:
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True or false: Studying business does NOT offerlany benefits for those who decide to work for a government agency or a nonprofit organization
Answers
The following question is : false
The given statement stating that "the study of business would not help in knowing about the advantages of Non-profit organizations or government agencies" would be considered:
b). False
'Non-profit Organizations' are characterized as the 'type of business organizations or set up that does not work with the aim of profit but for social welfare. Similarly, the sole motive of a government agency is also 'social welfare.' However, the workings of both the kinds of organizations(business and NPOs) are similar like the recruitment of staff or volunteers, ensuring productivity, putting the revenue back to the firm for progression of its operations, etc. Both of them have a goal of leaving the maximum impact on the people. Thus, the given statement is false as studying about business would give a very clear idea about the various processes of an organization.Learn more about 'Non-Profit Organization' here:
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A restaurant owner just found out that his pizza bistro is losing money. What is one possible explanation for this loss?
A The revenue isn’t being maximized.
B The costs aren’t being maximized.
C The revenue isn’t being minimized.
D The costs and the revenue aren’t both being maximized.
E The costs and the revenue aren’t both being minimized.
Answers
Answer: D
Explanation: if both are not maximized, his revenue will drop because he is not maximizing.
The impact of Furman v. Georgia (1972) was that states had to
promise to use the death penalty only with approval from the Supreme Court.
throw out the old Miranda warning and write a new one.
agree to throw out all state laws regarding crime and impose national standards.
create clear standards to be applied fairly before imposing the death penalty.
Answers
Answer: D.create clear standards to be applied fairly before imposing the death penalty.
Explanation: The answer it's right there
The impact of Furman v. Georgia (1972) was that states had to
create clear standards to be applied fairly before imposing the death penalty.The Furman v. Georgia caseThis was a case that had to do with the cruel and the unusual way that people faced in the death penalty.
The case ruled that the death penalty was unconstitutional if it was applied in a discriminatory way.
It ruled that the eight amendment was being violated if used in this way.
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In order for Kate to earn a producer surplus of exactly $60 from selling a used smartphone, the market price needs to be
Answers
For Kate to earn a producer surplus of exactly $60 from selling a used smartphone, the market price needs to be $120.
The producer surplus is calculated by finding the difference between the market price and the minimum price that the producer is willing to accept. In the case of Kate selling her used smartphone, for her to earn a producer surplus of $60, the market price needs to be such that her minimum acceptable price is $60 less than the market price.In other words, let the market price be denoted by P. Kate's minimum acceptable price is P-60. Therefore, her producer surplus is $60. The equation that represents this scenario is:
Producer surplus = market price - minimum acceptable price$60
= P - (P-60)$60 = P - P + 60$60 = 60
Therefore, for Kate to earn a producer surplus of exactly $60 from selling a used smartphone, the market price needs to be $120.
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where does telephone and printing goes in the trial balance
Answers
Answer:
Printing and Stationery expenses are indirect expenses. Therefore, these expenses are shown in expenses side of profit and loss account, so it will be in credit side of trial balance.
this occurs because there is no active project selection matrix, lack of data or lack of business focus. this often results in stopping projects which are already in motion or lack of interest for employees.
Answers
A challenge priorities matrix, additionally referred to as a prioritization matrix, is a dependent approach to figuring out what to prioritize whilst operating on a venture. A easy priority matrix maps three basic, but competing priorities in a task: time, price and scope.
One of the most important tools to help you weigh those elements and determine which responsibilities and initiatives to finish first is a concern matrix. With a clean way of charting out priorities, this model can assist your productiveness and execution can move from efficient to great.
A prioritization matrix is a simple device that provides a way to sort a various set of gadgets into an order of significance. It additionally identifies their relative significance by way of offering a means for rating projects (or challenge requests) primarily based on standards that are decided to be crucial.
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At which point(s) would penny's parasols endure economic losses, but continue to produce in the short run?
Answers
Penny's Parasols may continue to produce in the short run despite enduring economic losses under certain circumstances. Here are a few scenarios where this could happen:
1) Temporary market downturn:
If there is a short-term decrease in demand for parasols due to factors like seasonality or a temporary economic downturn, Penny's Parasols may experience economic losses. However, they might choose to continue production in the short run to maintain their market presence and fulfill any existing orders. This decision could be driven by the expectation of demand picking up again in the future.
2) Fixed costs and sunk costs:
Penny's Parasols may have substantial fixed costs, such as rent for their production facility or machinery maintenance expenses. In the short run, these costs cannot be easily adjusted or avoided. Even if they are experiencing economic losses, they might choose to continue production to cover a portion of their fixed costs and mitigate further losses. This decision could be seen as a strategy to minimize losses while preserving the possibility of recovering in the long run.
3) Long-term contracts or commitments:
If Penny's Parasols has entered into long-term contracts with suppliers or customers, they may have commitments to fulfill despite facing economic losses. In such cases, they may choose to continue production in the short run to honor their contractual obligations. This decision could be made to maintain their reputation and avoid legal or financial penalties associated with contract breaches.
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You scheduled a meeting with your banker to discuss your findings. How will you fine-tune your product to incorporate your market research?
Answers
Answer:
5 Simple Steps to Fine-Tune Your Digital Marketing Planwww.convinceandconvert.com › digital-marketing › fi...
Were results good, targets met, and goals achieved? Or did your plan totally miss the mark? If you don't review what you did, how will you know what worked
Explanation:
which one of these is an example of a necessary debt
Answers
Answer:
An example of unnecessary debt is when you change your clothes and don't really need on a high-interest score. Thus option C is correct.
What is unnecessary debt?
An unnecessary debt can be caused by a variety of issues such as expensive life events, having children, or moving to a new house. It may also be due to poor money management. The debt is due to those things that are not needed and hence are unnecessary.
Explanation:
True or False
A Person who works full time for a power company in the energy cluster is considered a consultant.
Answers
Answer:
True
Explanation:
Answer:
False, i took the quiz and got 100% percent- k-12 7th grade career final exam
Explanation:
A buyer informs a listing salesperson that the buyer plans to subdivide the property and then list it with the salesperson as soon as the offer is accepted. The salesperson makes no mention of to the seller and the buyer's offer is than accepted. The salesperson's conducted is in violation of the New Jersey License Law because the salesperson failed to:
Answers
The salesperson's conduct is in violation of the New Jersey License Law because the salesperson failed to disclose the material fact.
Material fact is an important information that a person should know before making a decision on a transaction. In real estate, material facts refer to the relevant information about a property or a transaction that a buyer or seller should know. This information includes things like:
Physical conditions that may affect the property's value or useLegal encumbrances that may affect the property's use or saleEnvironmental issues that may affect the property's value or use.A listing salesperson is legally obliged to disclose material facts about a property to potential buyers.
If the buyer has any intention to subdivide the property and list it with the salesperson as soon as the offer is accepted, then it should be considered a material fact.
The salesperson failed to disclose this material fact to the seller, thus violating the New Jersey License Law.
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As a(n) , it‘s up to you to make choices about what you buy and use.
Answers
As a consumer, it‘s up to you to make choices about what you buy and use.
What are consumers?Generally, A consumer is a person or group that uses a product or service. In economic terms, a consumer is someone who buys goods and services for personal use.
Consumer demand drives the economy, as businesses aim to produce and sell products that consumers want to buy.
Consumers also play a role in shaping the market by making purchasing decisions based on factors such as price, quality, and brand.
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CQ
As a(n)_____ , it‘s up to you to make choices about what you buy and use.
Which factor plays the biggest role in motivating economic decisions in a
market economy?
O A. Corruption in the leadership of powerful groups
O B. Commitment to maintaining a traditional lifestyle
O C. Competition between different businesses
D. Cooperation between governments and citizens
Answers
Cooperation between governments and citizens: plays the biggest role in motivating economic decisions in a market economy. Thus, option D is the correct option.
What Is a Market Economy?A market economy is a kind of capitalism in which a nation's companies and residents interact to determine economic policy and the cost of products and services. Although there may be some central planning or government interference, this phrase often denotes a more generally market-oriented economy.
The majority of economic decisions in a market economy are made through voluntary transactions that follow the rules of supply and demand. In a market economy, entrepreneurs are free to pursue profit by producing outputs that are worth more than the inputs they use, or, if they choose not to, to fail and close their doors. The forces of supply and demand are used in market economies to set the right prices and quantities for the majority of products and services.
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FAOSTAT, the Food and Agriculture Organization of the United Nations, collects information on the production and consumption of more than 200 food and agricultural products for many countries around the world. This Excel file shows the meat consumption (per capita in kilograms per year) and alcohol consumption (per capita in ger seal countries. The United States leads in meat consumption with 123 kilograms while Ireland consumes the most alcohol with 70.69 gallons. IMPORTANT NOTE: To answer the questions below round off means and standard deviations to 2 decimal places. Question 1a. Find the z-score for United States meat consumption.(Use 2 decimal places in your answer). Question 1b. Find the z-score for Ireland's alcohol consumption.(Use 2 decimal places in your answer). Ireland United States Question 3. If meat consumption is expressed in pounds instead of kilograms, what is the z-score for United States meat consumption? (1 kilogram = 2.2 pounds)
Answers
The z-score for United States meat consumption expressed in pounds is 9.32.
1a. Find the z-score for United States meat consumption.
To find the z-score, we use the formula;
z=(x−μ)/σz = (x - μ) / σ,
where x is the given value, μ is the mean, and σ is the standard deviation.
For the United States, the mean meat consumption is 123 kilograms per year. Given a standard deviation of 15.94, the z-score for the United States meat consumption is;z=(x−μ)/σ= (123 - 123) / 15.94= 0
1b. Find the z-score for Ireland's alcohol consumption.
To find the z-score, we use the formula;
z=(x−μ)/σz = (x - μ) / σ,
where x is the given value, μ is the mean, and σ is the standard deviation.
For Ireland, the mean alcohol consumption is 70.69 gallons per year. Given a standard deviation of 7.15, the z-score for Ireland's alcohol consumption is;
z=(x−μ)/σ= (70.69 - 70.69) / 7.15
= 0Ireland = 0US = 0
The z-score is zero because the value is equal to the mean value.
The mean meat consumption for the United States is 123 kg per year. To convert this to pounds, we multiply by 2.2;123 × 2.2 = 270.6
So, the United States meat consumption in pounds is 270.6 per year.
Now we can calculate the z-score using the formula;
z=(x−μ)/σz = (x - μ) / σ,
where x is the given value, μ is the mean, and σ is the standard deviation.
Using the same standard deviation of 15.94, the z-score for the United States meat consumption in pounds is;
z=(x−μ)/σ= (270.6 - 123) / 15.94= 9.32 (rounded to 2 decimal places)
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